Russian Federation: Technical Note on Crisis Management and Crisis Preparedness Frameworks
IMF Staff Country Reports, November 29, 2011
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- Russian Federation: Technical Note on Crisis Management and Crisis Preparedness Frameworks
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Bibliographic details
- Published: November 29, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781463925918.002
Summary
- Discusses lessons learned from the financial crisis in Russia in 2008.
- Summarizes key findings and recommendations.
- Analyzes the institutional framework and coordination arrangements for systemic risk monitoring and crisis management.
- Covers crisis management tools and legal protection.
- Assesses crisis prevention measures, including approaches to intervene with potential problem institutions at an early stage.
Key findings and recommendations
- Lessons from the 2008 financial crisis in Russia are synthesized to inform crisis management and preparedness.
- Emphasizes the need for clear institutional arrangements for systemic risk monitoring and crisis management.
- Recommends strengthening crisis management tools and legal protections to enable effective interventions.
- Advises enhancing crisis prevention measures and frameworks for early intervention with potential problem institutions.
Institutional framework and coordination arrangements
- Reviews existing institutional roles and coordination mechanisms for systemic risk monitoring.
- Highlights the importance of well-defined responsibilities among central authorities and relevant agencies for crisis response.
Crisis management tools and legal protection
- Examines available crisis management instruments, including resolution powers and liquidity facilities.
- Discusses legal protection considerations for authorities and tools used during crisis interventions.
Crisis prevention and early intervention
- Assesses measures aimed at preventing crises and identifying problem institutions early.
- Considers approaches to intervene with potential problem institutions at an early stage to limit systemic fallout.
Subjects and keywords
- Subject: Bank resolution, Banking, Correspondent banking, Deposit insurance, Financial crises, Financial institutions, Financial sector policy and analysis, Financial services, Loans, Moral hazard
- Keywords: Bank resolution, bank resolution power, bridge bank, CBR employee, CBR law, central bank, Correspondent banking, CR, Deposit insurance, deposit liability, financial support, Global, interest rate, ISCR, liquidity facility, Loans, Moral hazard, parent bank, problem bank, resolution regime, restructuring tool